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Chinese Meme Coin "Laozi" surpasses a market cap of $10 million, with a 24-hour increase of 171%
【Blockchain Rhythm】On January 10th, the Chinese Meme coin “Laozi” briefly surpassed a market capitalization of $10 million, setting a new historical high, before falling back to around $9.22 million. The 24-hour increase reached 171%, and the market’s enthusiasm for this concept coin was driven by a tweet from a well-known figure.
However, it is important to note that trading Meme coins carries extremely high risks. The prices of such tokens are often highly volatile, primarily driven by market sentiment and hype around concepts, and lack actual utility or real use cases to support their value. Investors should fully understand the risks and trade within their means before participating in such transactions.